Gotham Asset Management LLC Buys New Position in Okta, Inc. (NASDAQ:OKTA)

Gotham Asset Management LLC bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,488 shares of the company’s stock, valued at approximately $1,220,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Jackson Hole Trust bought a new stake in shares of Okta during the 4th quarter valued at about $25,000. TD Private Client Wealth LLC boosted its position in shares of Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after purchasing an additional 456 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Okta during the 4th quarter valued at about $43,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Okta during the 4th quarter valued at about $44,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Okta by 40.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 732 shares of the company’s stock valued at $58,000 after purchasing an additional 210 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Analyst Ratings Changes

OKTA has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price target on shares of Okta in a report on Tuesday, March 4th. Wells Fargo & Company increased their price target on Okta from $95.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Westpark Capital reiterated a “buy” rating and issued a $140.00 price target on shares of Okta in a report on Friday, February 28th. BTIG Research reiterated a “buy” rating on shares of Okta in a report on Tuesday, March 4th. Finally, Citigroup increased their price target on Okta from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Okta currently has an average rating of “Moderate Buy” and an average target price of $117.74.

Okta Stock Up 2.3%

Shares of NASDAQ OKTA opened at $127.30 on Friday. Okta, Inc. has a one year low of $70.56 and a one year high of $127.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The business’s fifty day moving average price is $108.15 and its 200-day moving average price is $94.00. The stock has a market capitalization of $22.10 billion, a PE ratio of -363.71, a P/E/G ratio of 6.42 and a beta of 0.96.

Insider Activity

In related news, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the sale, the executive now owns 19,067 shares of the company’s stock, valued at approximately $1,929,389.73. This represents a 26.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total value of $13,650,000.00. The disclosure for this sale can be found here. Insiders have sold 154,452 shares of company stock valued at $16,347,360 in the last 90 days. Insiders own 5.68% of the company’s stock.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.